Plans to expand B&Q and Screwfix are announced, bringing total UK investment from the home improvement company to £130million. 26/09/2011
Europe’s leading retailer in home improvement has opened a combined total of 80 stores in 2011. Having created 230 extra jobs at former Focus stores earlier in the year, the B&Q strand of the business also saved an additional 570 jobs at the time of purchase.
Screwfix, the UK’s largest multi-channel supplier of trade tools, plumbing and electrical equipment, is aiming to create 1,000 jobs in 40 new stores by the end of January next year.
‘We are backing Britain, investing to grow our B&Q and Screwfix businesses in the UK, creating jobs and supporting local communities. We have the balance sheet strength and financial flexibility to do this. Although the economic outlook is uncertain, this investment demonstrates our confidence in the UK's longer-term growth prospects,’ said Ian Cheshire, Kingfisher's group chief executive.
These moves follow the successful trial of a new format store, which was designed for smaller and more densely populated areas.
‘We are delighted to be bringing B&Q's choice, convenience and value to areas where B&Q has not been represented and adding extra jobs to the roles already safeguarded. At Screwfix, we have been trialling a smaller store format for some time and it has proved very popular with customers.
The new format opens up a lot of new locations that would not otherwise have been possible. It gives us scope to expand the Screwfix network to over 300,’ said Euan Sutherland, chief executive of Kingfisher UK & Ireland.
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